Preheat oven to 425 degrees Fahrenheit.
In a Dutch oven, pour the olive oil in the pot over medium-high heat. Add the onion and garlic cook until translucent about 3-4 minutes. Add the arborio rice and cook coating rice with the oil and toasting about 1 minute. While rice cooks heat water in the microwave until hot and set to the side.
Stir in the white wine and cook until it has completely evaporated (about 2 minutes). Stir in the hot water, chicken broth, salt, and pepper. Bring to a boil, stir, and cover with a lid. Then, transfer to the oven and bake until most of the liquid has been absorbed by the rice about 25 minutes.
Remove the pot from the oven. Stir the risotto then add in the frozen green peas, cheese, and parsley. Place lid on top of dutch oven and let rest for 5 minutes. Stir one more time and serve immediately.